Homburger advises Deutsche Bank AG, London Branch, on the financial restructuring of VARTA AG

Homburger acted as Swiss counsel to Deutsche Bank AG, London Branch, and the other syndicate banks, with regard to all Swiss legal aspects of the financing transaction for VARTA AG. VARTA AG produces and markets a diverse range of batteries including micro batteries, household batteries, energy storage systems and customer-battery solutions. As technology leader, VARTA AG sets industry standards in important areas of the battery technology field. VARTA AG is about to conclude complex financial restructuring proceedings initiated in July 2024 under the German StaRUG (German Act on the Stabilisation and Restructuring Framework for Companies). The restructuring plan was accepted in November 2024 and is to be finally implemented in the first quarter of 2025.

VARTA AG is to receive access to new credit facilities of EUR 60 m. The new facilities are a crucial part of the measures intended to secure VARTA AG’s core electronic battery industry, thereby helping to safe-guard jobs and value creation in Germany and Switzerland.

The Homburger team was led by Jürg Frick (Financing and Investment Products) and included Michelle Wolf and Nathalie Scherrer (both Financing and Investment Products) as well as Stefan Oesterhelt (Tax).